Ford Rallies Off Goldman Sachs Upgrade

em>Joel Elconin is the co-host of

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Ford

shares are trading higher by $0.35 at $15,64 in Wednesday's session. The company was a recipient of an upgrade from Neutral to Buy. Also, the firm downgraded General Motors

from Buy to Neutral. Ford shares distanced itself from the $15 level in Tuesday's session, moving up from $15.13 to $15,.29. The Goldman Sachs upgrade instigated a higher open ($15.50 vs. Tuesday's close $15.29) and after brief retreat to $15,42, the rally continued. So far, it has reached $15,66 and is trading not far from that level. That marks the highest level for the issue since it peaked on May 11 at $15.84. Ford is on pace to have have an above average volume day. So far, it has traded 17M shares with over four hours remaining in the session, compared with it 20 day average of 24M.